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IN RE ALAN WOOD STEEL CO.

Bankruptcy No. 77-930EG.

7 B.R. 697 (1980)

In re ALAN WOOD STEEL COMPANY, Debtor.

United States Bankruptcy Court, E.D. Pennsylvania.

December 15, 1980.

Attorney(s) appearing for the Case

Nathan Lavine, Adelman & Lavine, Philadelphia, Pa., for Edward Dwyer, Disbursing Agent.

John S. Estey, Montgomery, McCracken, Walker & Rhoads, Philadelphia, Pa., for debtor, Alan Wood Steel Company.

Fell, Spalding, Goff & Rubin, Philadelphia, Pa., Sklar, Pearl, Lichtenstein & Sklar, Philadelphia, Pa., for Creditors' Committee.

Griffin Bell, Atty. Gen., U.S. Dept. of Justice, Washington, D.C., Harvey Bartle III, Atty. Gen., Harrisburg, Pa., Peter F. Vaira, U.S. Atty., Walter S. Batty, Jr., Asst. U.S. Atty., Philadelphia, Pa., David T. Sykes, Philadelphia, Pa., for Central Penn, trustee.

Alan S. Fellheimer, I. Grant Irey, Jr., Philadelphia, Pa., co-counsel for Provident National Bank.

Stephen M. Heumann, Philadelphia, Pa., Chairman, for unsecured creditors' committee.

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The problem confronting us is whether a disbursing agent appointed by us in a Chapter XI case is required to file a tax return with or pay taxes to the state or federal taxing authorities on interest earned by estate funds kept in interest-bearing accounts during the tenure of that agent. We conclude that a disbursing agent is not required to do so.

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